Bittime - Big investment firm Franklin Templeton, which issues a Bitcoin ETF (exchange-traded fund), predicts a rapid surge for Solana (SOL). This crypto asset has recorded a price increase of more than 560% since the beginning of 2024!
They believe Solana has the potential to become one of the leading crypto assets alongside Bitcoin and Ethereum.
Why is Solana Expected to Continue Rising?
A recent report from Franklin Templeton mentions several key factors supporting Solana's growth. One of them is crypto activity which will surge in the fourth quarter of 2023.
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At that time, Solana became the center of attention due to many large "airdrops" in its ecosystem, such as Jito and Pyth. Airdrop is a free distribution of crypto tokens to certain users.
According to the report, this airdrop triggered a domino effect that generated profits of more than 1 billion US dollars. Not only SOL, other tokens in the Solana ecosystem, especially meme coins, have also experienced an increase in value.
Also read: The Future of Solana (SOL) & Solana ETF Predictions
This rise coincided with Bitcoin's positive trend, further strengthening Solana's momentum.
Meme Coin Takes Spotlight on Solana
Meme coins, crypto assets with cute images that generally have no special function, have recently become increasingly popular. The Solana network has become one of the main venues for creating and trading meme coins.
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Some meme coins on Solana even have market capitalizations of billions of US dollars, such as Bonk (BONK) and Dogwifhat (WIF).
Will Solana Be the Next Big Breakthrough?
Franklin Templeton saw significant growth in Solana over the past year. This can be seen from the increase in total transaction fees and trading volume on decentralized exchanges (DEX) built on the Solana network.
Also read: What is Solana Virtual Machine (SVM)? Understanding the Core Technology Behind Solana
Low transaction fees, high transaction speeds, and the ability to process large data compared to other networks are Solana's advantages.
These advantages are expected to get stronger as network performance improves, making Solana ready to become a major player in the next development of crypto.
Conclusion
The future of crypto is still full of uncertainty. However, Franklin Templeton predicts that Solana has a big chance of becoming an important player.
Their report states that the Solana ecosystem is expected to welcome another airdrop in the coming months, which will continue to increase the overall value of the ecosystem.
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In addition, meme coin activity on the Solana network is predicted to continue to be busy, adding to positive sentiment towards this crypto asset and its entire ecosystem.
How to Buy Solana (SOL) on Bittime
You can buy and sell Solana (SOL) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Solana (SOL) is available on Bittime with the market pair SOL/IDR. To be able to buy SOL IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to Solana (SOL) on Bittime.
Monitor price chart movements for Solana (SOL), Bitcoin (BTC), Ethereum (ETH) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
SOLAMA: The Meme Coin That Drives Solana's Rise
Why Solana Price Dropped Today
Solana Price Prediction: Will Solana Continue to Surge Amid Falling Bitcoin Price?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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